Taseko Mines (NYSE:TGB) Shares Gap Up – Time to Buy?

Taseko Mines Limited (NYSE:TGB) shares gapped up before the market opened on Monday . The stock had previously closed at $2.39, but opened at $2.47. Taseko Mines shares last traded at $2.42, with a volume of 384,922 shares trading hands.

Taseko Mines Trading Down 2.1 %

The firm has a market capitalization of $684.17 million, a P/E ratio of 9.75 and a beta of 1.74. The business’s 50 day moving average is $2.30 and its two-hundred day moving average is $2.40. The company has a quick ratio of 1.34, a current ratio of 2.09 and a debt-to-equity ratio of 1.57.

Taseko Mines (NYSE:TGB) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. The company had revenue of $100.66 million for the quarter, compared to the consensus estimate of $88.01 million. Taseko Mines had a net margin of 13.07% and a return on equity of 18.82%. Analysts expect that Taseko Mines Limited will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Taseko Mines

Hedge funds have recently modified their holdings of the company. Keystone Wealth Services LLC acquired a new stake in Taseko Mines in the 2nd quarter valued at about $37,000. SG Americas Securities LLC acquired a new stake in shares of Taseko Mines during the 3rd quarter valued at $38,000. Signaturefd LLC raised its position in shares of Taseko Mines by 21.9% during the third quarter. Signaturefd LLC now owns 46,808 shares of the company’s stock worth $118,000 after purchasing an additional 8,397 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Taseko Mines during the second quarter worth $157,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Taseko Mines by 58.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 97,497 shares of the company’s stock valued at $239,000 after purchasing an additional 36,010 shares during the period. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.